46Security for advance

#### 46 Security for advance 46 Security for advance (cf Act No 7, 1912, s 31) > > (1) A person to whom money is advanced by the Corporation under this Division or in respect of whom money is expended by the Corporation under this Division must give security to the satisfaction of the Corporation. > > > (2) If any money advanced or expended under this Division is secured by a mortgage of land, the mortgage must— > > > > > (a) contain covenants for keeping the mortgaged premises in repair and insured in the name of the Corporation, and > > > > > (b) be registered in the Land Titles Office.